If we want to build a successful business enterprise, the key thing that a  entrepreneur need to know is you about their weakness. We all know about the strengths but we seldom know our weakness or we don’t want to show over weakness which is okay but if I want to manage my business efficiently then I got to know my weakness. For example somebody could be great in marketing customer service and more  of that kind at work,  but mess up when it comes to organizing or handling the employees those kind of backend works. The advantage of knowing their  weakness is you can find a partner or an employee who is second in command, who can handle the work with the strength that you are weak at. At nutshell, you got to know the weakness and you should manage it well.

Also it is very important for the entrepreneur to know the  purpose of its existence. For example, a business owner may start a business just to take into certain  level and sell it out. In this case they may not have lot of the emotional investment or long-term thinking. In other case the business owner may want to hand over the legacy for the generations to come. So it is very important for you to know the purpose of starting your business and so guiding the enterprise in right direction.

I’m sure you have the experience of coming across the household pets and they can exactly find out if you are in the sad mode or in fear etc. so, if you don’t have belief in what you’re doing or if you’re nervous of the future of the enterprise etc. your employees and customers and potential customers and potential employees can smell  it from far away. Because belief is contagious. This is simple, if you are nervous about your business you can be rest assured your employees have  already started putting their resumes somewhere else as everybody wants stability.

All successful business owners know it is very important to be respectful with their current employees, past and also customers and people in general as we don’t want people to badmouth about us when we are not there. This is a year of social media and here some of your potential customer may know the person who is discussing about you badly. These things today travels with  lightning speed and  with the technology. Also, all these things are part of brand building for the business especially if you have long-term prospective. In general, what goes around comes around and it is not in anybody’s benefit to create enemies if it is not absolutely needed. This the way to accomplish the  following  Golden rule, don’t do to  others like you don’t  like it to be  done to you.

Majority of the time the business enterprises fail or succeed to the level we need is because of the reason they don’t have Plan B. Businesses always launch a new product or new technique or new venture expecting and completely believing he could succeed and in many cases it should and it will. But, if you don’t have Plan B just in case you could get trapped. Many time we are so excited and confident with the start up venture that it will succeed [which is starting a venture] we never expect to go otherwise and hence have no Plan B and get trapped. Good entrepreneur always knows, you expect the best but be prepared for the worst.

In the end of Internet, starting a business online and retiring from it even when the business is growing and thriving is very well possible. At least for this reason, it is very important to keep the business and the business processes so simple that anybody can handle it in your absence. This is the best kept secret of being a real master of business rather than the slave. All work and no play makes Jack a dull boy holds true for the entrepreneurs also. Many time, some of the best ideas comes from the golf course of restaurants etc.  when the mind is relaxed. It is not all about the physical work but about the mental work.

We can always see the successful entrepreneurs having fun at what they are doing. That would be a correlation between these two, they’re having fun in what they are doing and that is the reason  of their success. Because if you are not having fun, then the people around you which includes your employees and your customers and your potential customers are not having fun with you and they don’t want to be with you if  it is possible. So, enjoy what you’re doing or make business out of things that you enjoy.

Many of the things we discussed above may sound like old wind in the new container and it is true. These business fundamentals for building an empire was true yesterday and is true today and will be true tomorrow. One of the best ways to start a business online could be converting your hobbies or passion into a business. By consulting professional organization like netultimate you will able to convert your passion and hobby into a successful business.


Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>